HB450 Alabama 2014 Session

Under existing law, a person commits the crime of negotiating a worthless negotiable instrument if he or she negotiates or delivers the instrument for a thing of value and with the intent, knowledge, or expectation that it will not be honored by the drawee

This bill would specify that the term "negotiable instrument" includes electronic drafts

Amendment 621 of the Constitution of Alabama of 1901, now appearing as Section 111.05 of the Official Recompilation of the Constitution of Alabama of 1901, as amended, prohibits a general law whose purpose or effect would be to require a new or increased expenditure of local funds from becoming effective with regard to a local governmental entity without enactment by a 2/3 vote unless: it comes within one of a number of specified exceptions; it is approved by the affected entity; or the Legislature appropriates funds, or provides a local source of revenue, to the entity for the purpose

The purpose or effect of this bill would be to require a new or increased expenditure of local funds within the meaning of the amendment. However, the bill does not require approval of a local governmental entity or enactment by a 2/3 vote to become effective because it comes within one of the specified exceptions contained in the amendment

To amend Section 13A-9-13.1, Code of Alabama 1975, relating to the crime of negotiating a worthless negotiable instrument; to specify that a negotiable instrument includes electronic drafts; and in connection therewith would have as its purpose or effect the requirement of a new or increased expenditure of local funds within the meaning of Amendment 621 of the Constitution of Alabama of 1901, now appearing as Section 111.05 of the Official Recompilation of the Constitution of Alabama of 1901, as amended.